Xcel Energy Inc (XEL)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 14,206,000 | 15,310,000 | 13,431,000 | 11,526,000 | 11,529,000 |
| Total assets | US$ in thousands | 64,079,000 | 61,188,000 | 57,851,000 | 53,957,000 | 50,448,000 |
| Total asset turnover | 0.22 | 0.25 | 0.23 | 0.21 | 0.23 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $14,206,000K ÷ $64,079,000K
= 0.22
The total asset turnover ratio measures a company's ability to generate revenue from its total assets. A higher ratio indicates that the company is more efficient in utilizing its assets to generate sales.
For Xcel Energy, Inc., the total asset turnover has fluctuated over the past five years, ranging from 0.21 to 0.25. In 2023, the ratio decreased to 0.22 from 0.25 in 2022. This suggests a slight decrease in the company's efficiency in utilizing its total assets to generate revenue.
Overall, Xcel Energy's total asset turnover ratio indicates that the company may need to focus on improving the efficiency of its asset utilization to drive higher revenue generation in the future. Further analysis of the company's operational and financial strategies may be required to identify areas for improvement and enhance overall performance.
Peer comparison
Dec 31, 2023